Halliburton (HAL) Shares Sold by River Wealth Advisors LLC
River Wealth Advisors LLC trimmed its stake in Halliburton (NYSE:HAL) by 19.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,109 shares of the oilfield services company’s stock after selling 6,025 shares during the quarter. River Wealth Advisors LLC’s holdings in Halliburton were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of HAL. Avestar Capital LLC raised its position in Halliburton by 1,159.6% during the second quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock valued at $105,000 after acquiring an additional 2,180 shares in the last quarter. Whitener Capital Management Inc. bought a new position in Halliburton during the third quarter valued at approximately $106,000. Sun Life Financial INC raised its position in Halliburton by 1,170.1% during the second quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock valued at $107,000 after acquiring an additional 2,188 shares in the last quarter. Lee Financial Co bought a new position in Halliburton during the third quarter valued at approximately $118,000. Finally, Stelac Advisory Services LLC bought a new position in Halliburton during the third quarter valued at approximately $126,000. 79.96% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on HAL. Cleveland Research lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. HSBC cut their price objective on shares of Halliburton to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. Credit Suisse Group set a $51.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, September 6th. Finally, UBS Group set a $50.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Halliburton presently has a consensus rating of “Buy” and a consensus target price of $51.60.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. Halliburton’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. On average, sell-side analysts anticipate that Halliburton will post 1.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.22%. Halliburton’s payout ratio is 59.02%.
In other news, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Anne L. Beaty sold 1,210 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $43,838.30. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
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Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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